In 2001, Apple introduced the iPod: a 5 gigabyte music player that allowed for "1,000 songs in your pocket." Today, more than 200 million iPods have been sold.

Apple once again updated its iPod line Wednesday.

In typical Apple fashion, the company held an invitation-only event to show off sales numbers and its new products.

The biggest feature of the new iPod firmware is the ability to purchase pre-made ringtones. Apple chief executive, Steve Jobs, took the stage after taking a leave of absence to deal with health issues. Jobs introduced new iPod touch and iPhone software updates as well as a new iTunes version.

The biggest feature in the new iPod firmware is the ability to purchase pre-made ringtones.  The new iTunes also offers a radically re-designed store with a cleaner look.  ITunes will also allow for what Apple calls "home sharing," which enables the user to share their iTunes library with up to 5 computers in their home. Both the new software update and the new iTunes can be downloaded for free.

Phil Schiller, one of Apple's vice presidents, announced the arrival of the new iPod touch. Apple claims that the new iPod touches are 50 percent faster than the previous model. This increased speed will allow for smoother game play. Besides the speed increase, cheaper prices and larger storage, the new iPod touch is basically the same as its predecessor. The new iPod touch starts at $199.

Both iPod classic and the iPod shuffle received a storage boost.

The iPod shuffle will also be available in new colors: black, silver, blue, green, pink and a special edition    iPod shuffle that is polished stainless steel will be available. The iPod nanos start at $149.

The iPod nano has been changed the most, offering up new colors, a larger screen, FM radio and a built-in video camera. For more information on the new products released by Apple, check out their Web site.